Glaukos Archives - Page 2 of 3 - Medical Design Sourcing

Glaukos stock dips on big Q2 earnings miss

Glaukos (NYSE:GKOS) shares were down this morning on second-quarter results that missed the consensus earnings forecast.

The Aliso Viejo, California–based glaucoma treatment developer posted losses of $45.5 million, or 96¢ per share, on sales of $72.7 million for the three months ended June 30, 2022, for a bottom-line slide deeper into the red on a sales decline of 6.9%.

Adjusted to exclude one-time items, losses per share were 83¢, 39¢ behind Wall Street, where analysts were looking for sales of nearly $68 million.

“I’m pleased with our second quarter performance and solid execution of our strategies despite a challenging global environment,” Glaukos Chair and CEO Thomas Burns said in a news release. “We are now in the midst of several exciting new product launches and continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for …

Proposed 2023 Medicare Physician Fee Schedule could have a big impact on glaucoma surgeries

[Photo by Tobias Dahlberg]

The Centers for Medicare & Medicaid Services has released its proposed Medicare Physician Fee Schedule and issued a call for feedback on the proposed rule, which would take effect Jan. 1, 2023.

Medtech analyst Ryan Zimmerman and the team at BTIG went through the 2,000-page document and identified potentially market-moving changes in two areas: surgical glaucoma and advanced wound care.

CMS proposed cuts for most surgical glaucoma procedure payment rates to physicians, with double-digit losses for tube shunt revision (down 25% from $1,032 to $774), canaloplasty (down 19.9% from $761 to $610) and canaloplasty with a stent (down 11.4% from $799 to $708), according to BTIG research.

The canalplasty rate reduction would likely hit Omni surgical system developer Sight Sciences, Zimmerman said in a BTIG report. It could also give a lift to Alcon and Glaukos, which could see…

Glaukos posts Street-beating Q1 results

Glaukos (NYSE:GKOS) this week posted first-quarter results that beat the overall consensus on Wall Street.

The San Clemente, California-based company reported profits of $5.4 million, or 11¢ per share, on sales of $67.7 million for the three months ended March 31, for a sales loss of -0.42% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were -38¢, 13¢ ahead of The Street, where analysts were looking for sales of $60.85 million.

“I’m pleased with our first-quarter performance and execution of our strategies despite a challenging global environment,” CEO Thomas Burns said in a news release. “We continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to transform vision by disrupting the standard of care and improving outcomes for the benefit of patients worldwide suffering from chronic eye diseases.”

Glaukos expects net sales for 2022 to be in the range of $2…

Glaukos rises on Street-beating Q4

Glaukos (NYSE:GKOS) shares ticked up today on fourth-quarter results that beat the consensus forecast.

The San Clemente, California-based eye disease treatment developer posted losses of $21.9 million, or losses per share of 47¢, on sales of $73.2 million for the three months ended Dec. 31, 2021, for a bottom-line slide deeper into the red on minimal sales growth totaling just about $6 million.

Adjusted to exclude one-time items, earnings per share were 16¢, 53¢ ahead of Wall Street, where analysts were looking for sales of $67.3 million.

“Our fourth-quarter performance caps off a successful year of execution on many key strategic initiatives despite continued COVID-19 dynamics and other reimbursement challenges we faced,” Glaukos President and CEO Thomas Burns said in a news release. “We continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to transform vision by disrupting the standard of c…

Glaukos announces executive leadership changes

Glaukos this week announced several executive leadership changes that will take place on April 1.

Joseph Gilliam is appointed as president and chief operating officer. He previously served as the chief financial officer and senior VP of corporate development for the San Clemente, California-based company since 2017.

Here are Glaukos’ new executive committee appointments:

Chris Calcaterra will assume the new role of executive VP of global commercial operations. He joined Glaukos in 2008 as chief commercial officer and has served as chief operating officer since February 2017. Alex Thurman will succeed Gilliam to become senior VP and chief financial officer. He joined Glaukos as VP of global tax administration in July 2016 and has served as VP of finance since December 2016. Tomas Navratil will become the company’s new chief development officer. He has served as senior VP of research and development since joining the company in late 2020.

“On…

These medtech companies care a lot about research

[Image from Unsplash] They’re making glaucoma-treating stents, tumor-treating fields, coin-sized CGMs and more. Discover the medtech companies that spend the most on research as a percentage of revenue.

The list comes from our annual Big 100 report, which examines the world’s 100 largest medical device companies and ranks them by revenue. (Check out our full Big 100 report here.)

Medtech companies that have spent the most on R&D as a percentage of revenue have had much to boast about:

Glaukos’s iStent inject is an eye implant designed for cataract surgery to reduce intraocular pressure in adults with mild-to-moderate primary open-angle glaucoma. It was a Prix Galien USA Awards nominee last year. Novocure announced in September 2021 that the FDA had granted breakthrough designation for its NovoTTF-200T liver cancer treatment system. NovoTTF-200T system is a tumor treating fields (TTFields) delivery system for use in tandem with atezolizumab and be…

These medtech companies care a lot about research

[Image from Unsplash]

They’re making glaucoma-treating stents, tumor-treating fields, coin-sized CGMs and more. Discover the medtech companies that spend the most on research as a percentage of revenue.

The list comes from our annual Big 100 report, which examines the world’s 100 largest medical device companies and ranks them by revenue. (Check out our full Big 100 report here.)

Medtech companies that have spent the most on R&D as a percentage of revenue have had much to boast about:

Glaukos’s iStent inject is an eye implant designed for cataract surgery to reduce intraocular pressure in adults with mild-to-moderate primary open-angle glaucoma. It was a Prix Galien USA Awards nominee last year.

Novocure announced in September 2021 that the FDA had granted breakthrough designation for its NovoTTF-200T liver cancer treatment system. NovoTTF-200T system is a tumor treating field…

FDA clears Glaukos’ iPrime

Glaukos (NYSE:GKOS) announced that it received FDA 510(k) clearance for its iPrime viscodelivery system.

San Clemente, California-based Glaukos designed the Prime viscodelivery system as a sterile, single-use, minimally invasive device for delivering viscoelastic fluid during ophthalmic surgery.

Get the full story at our sister site, Drug Delivery Business News.

Glaukos announces licensing deal with Attillaps for pharmaceutical compounds

Glaukos (NYSE:GKOS) announced today that it entered into a licensing agreement with Attillaps for its library of pharmaceutical compounds.

San Clemente, California-based Glaukos was granted a global exclusive license to research, develop, manufacture and commercialize Attillaps’ proprietary library of investigational pharmaceutical compounds that target the eradication of Demodex mites — the root cause of Demodex blepharitis often associated with meibomian gland dysfunction and related ophthalmic diseases.

Get the full story at our sister site, Drug Delivery Business News.

Ivantis to pay $60M in patent litigation settlement with Glaukos

Glaukos (NYSE:GKOS) announced today that it entered into a settlement with Ivantis to terminate a three-year-old patent infringement lawsuit.

San Clemente, California-based Glaukos’ patent infringement lawsuit, initiated on April 14, 2018, in the U.S. District Court for the Central District of California, Southern Division, concerned Ivantis’ Hydrus Microstent for reducing eye pressure in glaucoma patients.

Get the full story at our sister site, Drug Delivery Business News.

Glaukos submits supplemental PMA application for iStent Infinite

Glaukos (NYSE:GKOS) announced today that it submitted a supplemental premarket approval application to the FDA for its iStent Infinite system.

San Clemente, California-based Glaukos designed the iStent Infinite trabecular micro-bypass system for use in a standalone procedure to reduce elevated intraocular pressure (IOP) in patients with open-angle glaucoma uncontrolled by prior surgery or medical therapy.

Get the full story at our sister site, Drug Delivery Business News.

Glaukos beats The Street in Q2, grows sales 147%

Glaukos (NYSE:GKOS) posted second-quarter results today that beat the overall consensus on Wall Street.

The San Clemente, Calif.-based company reported losses of -$17.5 million, or -38¢ per share, on sales of $78.1 million for the three months ended June 30 for a sales growth of 147.46% compared with Q2 2020.

Adjusted to exclude one-time items, earnings per share were -11¢, 18¢ ahead of The Street, where analysts were looking for sales of $71.4 million.

“We are pleased with our record second-quarter financial performance driven by sound execution on our key strategic priorities and the ongoing market recovery,” president and CEO Thomas Burns said in a news release. “We remain steadfastly dedicated to transforming the treatment of chronic eye diseases for the benefit of patients worldwide.”

Glaukos said it expects revenues for the fiscal year 2021 to be in the range of $285 million to $290 million.

Shares in GKOS were down -4.43% to $48.70 a…